Record shale output and scrapping boost Jones Act tanker earnings
US shale producers have ramped up output since a 40-year-old export ban was lifted, resulting in wider discounts of US crude to international grades. Refineries on the Atlantic coast have been buying more crude from the Gulf consequently, boosting earnings of Jones Act tanker players such as AMSC and OSG
Daily hire in the US domestic shipping market has doubled on year, lifting the results of OSG and AMSC
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